"Leeds United" successfully taken over © EuroFootball.com

The future of the English club finally looks safer, as it was taken over by a local consortium for 30 million pounds sterling.

The consortium, consisting of six people, is led by businessman Gerald Krasner, who said: "The consortium has done its job, 'Leeds United' has been saved for the fans."

The deal means that the club's assets and reduced debts will be taken over by "Leeds Utd AFC."

The financially struggling club is performing very poorly in the English league - it is currently in last place, and only a successful performance as the season approaches its end could save it from relegation to a lower division.